The Zacks Analyst Blog Highlights:Teva Pharmaceutical Industries, GlaxoSmithKline, Pfizer, Dr. Reddy's Laboratories and Seagate Technology
CHICAGO, April 10, 2014 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Teva Pharmaceutical Industries Ltd. (NYSE:TEVA-Free Report), GlaxoSmithKline (NYSE:GSK-Free Report), Pfizer (NYSE:PFE-Free Report), Dr. Reddy's Laboratories Ltd. (NYSE:RDY-Free Report) and Seagate Technology (Nasdaq:STX-Free Report).
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Here are highlights from Wednesday's Analyst Blog:
Teva to Launch Generic Lovaza
Teva Pharmaceutical Industries Ltd. (NYSE:TEVA-Free Report) announced that the U.S. Food and Drug Administration (FDA) has approved its generic version of GlaxoSmithKline's (NYSE:GSK-Free Report) Lovaza. Lovaza is used to lower very high triglyceride levels in adults.
Teva believes that it was the first to file and the only company to receive approval for generic Lovaza. Thus, the company may enjoy 180 days of marketing exclusivity. The product will be launched immediately.
As per IMS data, as of Dec 31, 2013, Lovaza annual sales were approximately $1.1 billion in the U.S.
Our Take
We view the launch of Lovaza in the U.S. as an important generic product launch for Teva this year and should boost the performance of its generics business.
We note that the performance of Teva's U.S. generics business, which generated approximately 21% of total revenues, was soft in 2013 with revenues declining 5% to $4.2 billion. This was primarily due to the termination of a royalty agreement related to the generic version of Pfizer's (NYSE:PFE-Free Report) Lipitor. Lower sales from generic versions of Lexapro, Actos and Actoplus also impacted revenues unfavorably.
On its fourth quarter conference call, the company stated that it had 133 abbreviated new drug applications (ANDAs) pending FDA approval, representing $81 billion in annual sales. These include 51 first-to-file opportunities, representing $40 billion in annual sales. Since then, the company has launched several products including generic versions of Xeloda and Evista.
Teva carries a Zacks Rank #2 (Buy). Some other stocks in the same sector worth considering include Dr. Reddy's Laboratories Ltd. (NYSE:RDY-Free Report) carrying a Zacks Rank #1 (Strong Buy).
Seagate Unveils Fastest HDD
Storage solutions provider, Seagate Technology (Nasdaq:STX-Free Report) recently announced the launch of its latest Enterprise Capacity 3.5 HDD v4, a hard disk drive (HDD) with 6TB (Tera byte) capacity.
This new 3.5 HDD v4 product offers a more flexible, efficient and cost effective solution, which is expected to enhance overall drive capacity, reliability and performance. The new drive not only provides high-capacity storage, but also provides advanced cloud-based solutions to customers, thereby balancing the workload across dynamic data centers and platforms.
The Enterprise Capacity 3.5-inch drive is an exceptionally fast and backward-compatible storage solution. It is also available in 5TB, 4TB and 2TB capacities, thus providing adequate storage. It offers up to 12 Gb/sec SAS or 6 GB/s SATA HDD for faster performance.
Additionally, the 3.5 HDD v4 includes RAID (redundant array of inexpensive disks) solutions that enable data storage using multiple drives and various data replication strategies to minimize the impact of the failure of any one drive.
The launch of the 3.5 HDD v4 comes at an opportune moment as storage services related to smartphones and tablets are being adopted on a large scale. Cloud-based storage has become the order of the day as it enables users to access content through different gadgets such as smartphones, tablets and personal computers. Seagate is expected to get good mileage from its hard drives that have a lower cost per gigabyte.
Storage of unstructured data has become a major problem. Big Data storage needs to be able to handle capacity and provide low latency for analytics work. According to IDC, growth of unstructured data will drive global digital data to reach 16 Zettabytes (ZB) by 2017. The launch bodes well for Seagate as businesses generate a large amount of data that needs to be stored cost-effectively for future reference.
We believe the secular growth of digital data, modest growth in the total addressable market and higher demand for storage are expected to drive near-term results.
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